Not to sound paranoid … but …Just when you think Minnesota has turned the corner in stimulating high-tech innovation, the nagging pest otherwise known as the budget has once again reared its ugly head. And it’s not pretty.Just weeks after Gov. Tim Pawlenty signed a bill that established the Minnesota’s first angel tax credits, the [...]

To BIO or not to BIO? That’s the question confronting Minnesota as it ponders its economic future.In some ways, the answer is obvious. The state boasts a lot of expertise and money in medical technology. Lawmakers have already earmarked millions of dollars to build a “Biomedical Discovery District” in Minneapolis and an “Elk Run BioBusiness [...]

Miromatrix CEO Robert Cohen has joined the executive advisory board for the Methuselah Foundation (MFoundation), a nonprofit medical charity that focuses on extending life and eliminating aging diseases.Cohen said he joined MFoundation to specifically work on the group’s NewOrgan Prize, a new scientific competition to stimulate work in regenerative medicine. The foundation will award cash, [...]

The $50 million angel tax credit passed by the Minnesota legislature Monday will no doubt provide much-needed early stage capital for young start-ups. But the law’s biggest benefit may not be dollars and cents, but rather how outsiders see Minnesota and how Minnesota sees itself.By passing the bill quickly in the legislative year and with [...]

The Minnesota House and Senate Monday overwhelmingly approved a five-year, $50 million tax credit designed to spur early-stage investment in high tech start-ups, including biotechnology and medical devices.Minutes after the House passed a jobs bill, which included the angel credits, 112-20, the Senate followed suit, 58-3. The lopsided vote capped an epic, seven-year struggle to [...]

Quantity or quality?Like most things in life, that’s not always an either/or question. Most people would prefer both. But as the University of Minnesota starts to shop its intellectual property a little more aggressively to investors, as evidenced by its first Life Sciences Showcase event at University Enterprise Laboratories Thursday morning, it’s something to think [...]

The company has already drawn considerable interest from investors across the country. Cohen said Miromatrix will likely raise the less than $1 million it needs for seed capital in 30 to 60 days. Miromatrix has already cashed a check from one angel investor, whom Cohen declined to name.

Sources say top business and political leaders in Wisconsin, including top Assembly Democrat Peter Barca, are lobbying hard for Miromatrix, which spun out of the University of Minnesota late last year, to establish its headquarters in the Badger State.

Rep. Ann Lenczewski’s opposition to angel credits flies in the face of evidence, experts, and the collective political and business will of Minnesota.

Miromatrix is close to signing a licensing agreement with the University of Minnesota to commercialize the regenerative tissue work of Dr. Doris Taylor. Two years ago, the star university scientist drew international attention for successfully growing — and keeping alive — a beating rat’s heart in a jar. Taylor’s work fueled hopes that scientists can one day grow replacement organs for patients who would typically wait for transplants.